Crypto industry organizations defend themselves after US Senator Warren called the OCC's licenses to crypto companies illegal.

CoinFeed reported on May 27th that, according to The Block, the crypto industry organization "Digital Chamber of Commerce" sent a letter to the U.S. Office of the Comptroller of the Currency (OCC) refuting Senator Elizabeth Warren's allegations that crypto companies such as Ripple and Coinbase "improperly" obtained national trust licenses. Warren wrote to the OCC last week stating that the approvals granted to digital asset companies such as Ripple, Circle, Paxos, Fidelity, BitGo, and Coinbase violated the National Banking Act and did not adhere to the same standards as traditional banks. Digital Chamber of Commerce CEO Cody Carbone stated that Warren's characterization of the approvals misinterprets the law and the OCC's long-standing licensing practices.